ECB Official Views on Tariffs and Inflation

Francois Villeroy de Galhau, a prominent member of the European Central Bank (ECB) Governing Council and Governor of the Bank of France, has recently shared his insights on the ongoing trade war between the European Union and the United States. In a detailed interview with the Frankfurter Allgemeine Zeitung, Villeroy expressed skepticism about the significant impact of tariffs on EU inflation rates.

Criticism of US Economic Policy

Villeroy did not hold back in his critique of US President Donald Trump's economic strategies, describing them as detrimental to the global economy. "The tragedy of Trump’s economic policy is that it turns a positive-sum game, which an open world economy represents, into a game where everyone loses," he stated, emphasizing that the US would be the first to feel the negative consequences of such policies.